updated 4/6/2011 8:16:32 AM ET 2011-04-06T12:16:32

SAN DIEGO, April 6, 2011 (GLOBE NEWSWIRE) -- Sagient Research Systems, a leading publisher of independent research for the financial services and institutional investment communities, today announced that Rodman & Renshaw, LLC ranked as the number one most active investment bank and Hudson Bay Capital Management L.P., ranked as the number one most active institutional investor in the U.S. PIPE market during the first quarter of 2011.

Sagient Research also announced that Sichenzia Ross Friedman Ference, LLP ranked as the number one most active issuer counsel, Greenberg Traurig, LLP ranked as the number one most active investor counsel, and Weinstein Smith, LLP ranked as the number one most active placement agent counsel in the U.S. PIPE market during the first quarter of 2011.

PlacementTracker, a flagship product of Sagient Research Systems, is well recognized as the leading provider of research, data, and analytics covering the PIPE market.

Commenting on the activity in the PIPE market, William Shephard, Senior Analyst at PlacementTracker said, "During the first quarter of 2011, a total of $7.59 billion was raised in 302 transactions (of this amount, 16 transactions totaling $109.2 million have been announced but not yet closed as of 04/06/11). These figures represent a decrease compared with the first quarter of 2010; however, if you exclude three $1 billion plus transactions last year (including the $6.5 billion General Growth Partners restructuring), the Q1 2011 market was roughly equal with respect to the number of transactions and dollar volume. That said, certain areas of the market have seen a marked up tick. There has been a 31% increase in the number and 56% increase in the commitment amount for Structured Equity Line/At-the-Market financings. We congratulate all of the active members of the PIPE community for continued success in 2011. Most of these firms are long-time clients of PlacementTracker, and we are dedicated to providing them with access to data on our ever-changing industry."

PlacementTracker's dynamically updating League Tables are available online at: http://www.placementtracker.com/pt/leaguetables.cfm .

The 2011 U.S. PIPE Market Investment Banking League Table    
By Number of Transactions (through 03/31/11):    
     
Placement Agent Name Transaction Count  Total Amount Placed
Rodman & Renshaw, LLC 24 $402,572,360
Roth Capital Partners, LLC 13 $269,597,342
Lazard 8 $194,431,204
Jefferies & Company, Inc. 7 $402,853,342
Ladenburg Thalmann & Co., Inc. 7 $230,980,000
Chardan Capital Markets 7 $52,812,800
JMP Securities LLC 6 $225,579,871
Maxim Group LLC 6 $180,395,965
Stifel Nicolaus Weisel 5 $185,866,463
Leerink Swann & Co. 4 $230,591,778
William Blair & Company, LLC 4 $70,533,940
Northland Securities, Inc. 4 $62,916,294
J.P. Morgan Chase & Co. 3 $440,489,999
Morgan Keegan & Company, Inc. 3 $228,151,250
Global Hunter Securities, LLC 3 $208,500,000
Canaccord Genuity Inc. 3 $174,430,000
National Securities Corporation 3 $160,942,500
Oppenheimer & Co. Inc. 3 $155,379,375
Piper Jaffray & Co. 3 $153,916,778
Janney Montgomery Scott, Inc. 3 $146,908,063
Merriman Capital, Inc. 3 $47,583,377
T.R. Winston & Company, Inc. 3 $20,276,639
Hudson Securities, Inc. 3 $5,860,805
Barclays Capital, Inc. 2 $450,001,390
Sandler O'Neill & Partners, L.P. 2 $379,999,999

Investment Banking rankings exclude all 144-A Offerings, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. On transactions where an investment banking firm has acted solely as Financial Advisor, that transaction has been excluded from that firm's ranking. Co-agented transactions award full transaction credit to all agents participating (regardless of status of lead agent or co-agent). Data is for closed transactions reported as of 04/04/11.

The 2011 U.S. PIPE Market Investment Banking League Table    
By Total Amount Placed (through 3/31/11):    
     
Placement Agent Name Transaction Count  Total Amount Placed
Barclays Capital, Inc. 2 $450,001,390
J.P. Morgan Chase & Co. 3 $440,489,999
Jefferies & Company, Inc. 7 $402,853,342
Rodman & Renshaw, LLC 24 $402,572,360
Sandler O'Neill & Partners, L.P. 2 $379,999,999
Roth Capital Partners, LLC 13 $269,597,342
Burke Capital Group, LLC 1 $231,599,431
Goldman, Sachs & Co. 1 $231,599,431
Ladenburg Thalmann & Co., Inc. 7 $230,980,000
Leerink Swann & Co. 4 $230,591,778
Morgan Keegan & Company, Inc. 3 $228,151,250
JMP Securities LLC 6 $225,579,871
Macquarie Capital (USA) Inc. 2 $220,160,216
Keefe, Bruyette & Woods, Inc. 2 $216,800,216
Global Hunter Securities, LLC 3 $208,500,000
Lazard 8 $194,431,204
Stifel Nicolaus Weisel 5 $185,866,463
Maxim Group LLC 6 $180,395,965
Canaccord Genuity Inc. 3 $174,430,000
Bank of America Merrill Lynch 2 $168,042,500
National Securities Corporation 3 $160,942,500
Oppenheimer & Co. Inc. 3 $155,379,375
Piper Jaffray & Co. 3 $153,916,778
Janney Montgomery Scott, Inc. 3 $146,908,063
Morgan Stanley 1 $142,140,000

Investment Banking rankings exclude all 144-A Offerings, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. On transactions where an investment banking firm has acted solely as Financial Advisor, that transaction has been excluded from that firm's ranking. Co-agented transactions award full transaction credit to all agents participating (regardless of status of lead agent or co-agent). Data is for closed transactions reported as of 04/04/11.

The 2011 U.S. PIPE Market Institutional Investor League Table    
By Number of Transactions (through 3/31/11):

 
   
Investor Name Transaction Count Total Amount Invested
Hudson Bay Capital Management L.P. 11 $15,991,020
Iroquois Capital L.P. 11 $10,421,424
LH Financial Services Corporation 7 $10,595,002
Heller Capital Partners 7 $2,360,250
Kingsbrook Partners, LP 6 $6,740,090
Downsview Capital, Inc. 6 $6,505,694
Wellington Management Company LLP 5 $30,792,300
AQR Capital Management, LLC 5 $7,075,004
Kayne Anderson Capital Advisors, L.P. 4 $169,135,580
Tortoise Capital Advisors, LLC 4 $131,580,228
Deerfield Management 4 $58,728,000
Becker Drapkin Partners fka SRB Greenway Capital 4 $6,988,999
Heights Capital Management, Inc. 4 $4,656,250
Empery Asset Management LP 4 $4,012,500
Anson Capital, LP 4 $1,850,000
Northwestern Mutual Life Insurance Company (The) 3 $41,750,252
Quantum Partners LP 3 $24,087,412
Baker Brothers Advisors, LLC 3 $22,000,407
Great Point Partners, LLC 3 $12,849,291
Fiduciary Asset Management 3 $4,950,000
Highbridge International, LLC 3 $4,000,000
Lyrical Opportunity Partners, L.P. 3 $1,520,111
Midsummer Capital, LLC 3 $895,000
Family Financial Strategies, Inc. 3 $696,216
Rockmore Capital, LLC 3 $650,000

Investor rankings exclude all 144-A Offerings, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. Investors classified as Corporate Investors and Insurance Companies have been excluded from this ranking. Data is for closed transactions reported as of 04/04/11.

 

The 2011 PIPE Market Issuer Counsel League Table    
By Number of Transactions (through 3/31/11):

 
   
Legal Counsel Transaction Count  Total Amount Advised
Sichenzia Ross Friedman Ference, LLP 7 $27,225,525
Cooley LLP 6 $140,228,001
O'Melveny & Myers, LLP 5 $82,843,923
Akerman Senterfitt 4 $279,830,000
Vinson & Elkins, LLP 3 $1,092,141,390
Latham & Watkins, LLP 3 $263,849,996
Wilson Sonsini Goodrich & Rosati 3 $178,570,612
Venable, LLP 3 $156,841,813
K&L Gates LLP 3 $108,135,001
Weintraub Genshlea Chediak Law Corporation 3 $37,436,656
Ropes & Gray 3 $29,150,000
DLA Piper 3 $27,107,529
Greenberg Traurig, LLP 3 $26,400,778
Anslow & Jaclin, LLP 3 $25,764,955
Troutman Sanders, LLP 3 $22,500,620
Ellenoff Grossman & Schole LLP 3 $19,463,762
Jones Day 2 $263,100,001
Paul, Hastings, Janofsky & Walker, LLP 2 $114,759,375
Gibson, Dunn & Crutcher, LLP 2 $63,490,000
Kilpatrick Townsend & Stockton LLP 2 $63,000,614
Zysman, Aharoni, Gayer & Company Law Offices 2 $59,112,500
Morrison & Foerster, LLP 2 $52,057,470
Mckenna, Long & Aldridge, LLP 2 $45,000,000
Katten Muchin Rosenman, LLP 2 $32,670,071
Loeb & Loeb, LLP 2 $23,500,000

Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. Data is for closed transactions reported as of 04/04/11.

 

The 2011 PIPE Market Investor Counsel League Table    
By Number of Transactions (through 3/31/11):

 
   
Legal Counsel Transaction Count  Total Amount Advised
Greenberg Traurig, LLP 22 $741,749,632
Schulte Roth & Zabel, LLP 21 $1,108,484,466
Baker Botts, LLP 5 $1,325,837,362
Lowenstein Sandler, PC 4 $35,164,961
Weinstein Smith LLP 4 $30,107,529
Kirkland & Ellis 2 $220,000,001
Katten Muchin Rosenman, LLP 2 $35,478,000
Sidley Austin LLP 2 $32,936,656
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 2 $32,500,000
Proskauer Rose, LLP 2 $12,112,499
Anslow & Jaclin, LLP 2 $10,265,849
Grushko & Mittman, PC 2 $5,600,000
Paul, Weiss, Rifkind, Wharton & Garrison 1 $250,000,000
Cleary, Gottlieb, Steen & Hamilton 1 $231,599,431
Davis Polk & Wardwell LLP 1 $231,599,431
Simpson Thacher Bartlett, LLP 1 $100,000,000
Wachtell, Lipton, Rosen & Katz 1 $100,000,000
Bryan Cave, LLP 1 $75,000,000
Arnold & Porter 1 $58,860,000
Latham & Watkins, LLP 1 $30,000,000
Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP 1 $19,000,000
Akin, Gump, Strauss, Hauer & Feld, LLP 1 $18,000,000
Cooley LLP 1 $11,645,928
DLA Piper 1 $10,000,000
Sutherland Asbill & Brennan, LLP 1 $10,000,000

Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. Data is for closed transactions reported as of 04/04/11.

 

The 2011 PIPE Market Placement Agent Counsel League Table    
By Number of Transactions (through 3/31/11):

 
   
Legal Counsel Transaction Count  Total Amount Advised
Weinstein Smith LLP 32 $246,131,759
Proskauer Rose, LLP 8 $237,423,710
Goodwin Procter, LLP 7 $150,927,034
Lowenstein Sandler, PC 7 $87,220,280
Cooley LLP 3 $176,340,000
Graubard Miller 3 $121,145,000
Latham & Watkins, LLP 3 $93,575,002
Simpson Thacher Bartlett, LLP 2 $78,943,144
Ellenoff Grossman & Schole LLP 2 $67,670,071
Hogan Lovells US LLP 1 $100,000,000
Sidley Austin LLP 1 $96,542,500
White & Case, LLP 1 $64,759,375
Edwards Angell Palmer & Dodge, LLP 1 $49,507,500
Weil, Gotshal & Manges, LLP 1 $42,000,000
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 1 $41,112,500
Day Pitney LLP 1 $38,640,000
DLA Piper 1 $32,500,000
Schulte Roth & Zabel, LLP 1 $30,057,470
Choate, Hall & Stewart, LLP 1 $19,550,000
Sichenzia Ross Friedman Ference, LLP 1 $18,000,000
O'Melveny & Myers, LLP 1 $17,527,501
Squire, Sanders & Dempsey, LLP 1 $15,299,313
Pillsbury, Winthrop, Shaw & Pittman, LLP 1 $15,000,000
McCarter & English, LLP 1 $12,477,000
Davis Polk & Wardwell 1 $12,376,467

Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. Data is for closed transactions reported as of 04/04/11.

About Sagient Research Systems

Sagient Research Systems is a publisher of specialized research and data. We develop, produce, and sell proprietary research products to global enterprises, including investment banks, mutual and hedge funds, pharmaceutical companies, academic institutions, and government agencies. Our business strategy is to continue to leverage our development, technology, and marketing expertise to solidify our position as a leading provider of independent research. In each of 2007, 2008, 2009, and 2010, Sagient Research was named to the Inc. 5000 list of fastest growing companies. For more information, please visit the Sagient Research Systems website at www.sagientresearch.com .

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